Organovo Holdings Inc. (ONVO) Rating Increased to Buy at Zacks Investment Research
Organovo Holdings Inc. (NASDAQ:ONVO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $3.25 target price on the stock. Zacks Investment Research’s price objective suggests a potential upside of 1.25% from the company’s previous close.
According to Zacks, “Organovo Holdings, Inc. is a three-dimensional biology company focused on delivering breakthrough bioprinting technology and creating tissue on demand for research and medical applications. Its NovoGen 3D printing technology is a platform that works across various tissue and cell types. Organovo Holdings, Inc. is based in San Diego, California. “
Separately, Jefferies Group reaffirmed a “buy” rating and set a $4.50 price target (up from $4.00) on shares of Organovo Holdings in a report on Thursday, July 21st.
Shares of Organovo Holdings (NASDAQ:ONVO) opened at 3.21 on Wednesday. Organovo Holdings has a 12 month low of $1.60 and a 12 month high of $4.99. The stock’s 50 day moving average price is $3.36 and its 200-day moving average price is $3.50.
Organovo Holdings (NASDAQ:ONVO) last announced its quarterly earnings results on Thursday, November 3rd. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The firm had revenue of $1.38 million for the quarter. Organovo Holdings had a negative return on equity of 62.11% and a negative net margin of 1,178.36%. On average, analysts expect that Organovo Holdings will post ($0.39) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of ONVO. Bank of New York Mellon Corp increased its position in Organovo Holdings by 3.9% in the second quarter. Bank of New York Mellon Corp now owns 377,437 shares of the company’s stock worth $1,404,000 after buying an additional 14,315 shares in the last quarter. Penbrook Management LLC increased its position in Organovo Holdings by 35.8% in the second quarter. Penbrook Management LLC now owns 266,475 shares of the company’s stock worth $992,000 after buying an additional 70,250 shares in the last quarter. Vanguard Group Inc. increased its position in Organovo Holdings by 9.1% in the second quarter. Vanguard Group Inc. now owns 3,376,661 shares of the company’s stock worth $12,561,000 after buying an additional 281,330 shares in the last quarter. Cowen Group Inc. increased its position in Organovo Holdings by 8.6% in the second quarter. Cowen Group Inc. now owns 63,000 shares of the company’s stock worth $234,000 after buying an additional 5,000 shares in the last quarter. Finally, BlackRock Advisors LLC increased its position in Organovo Holdings by 20.3% in the second quarter. BlackRock Advisors LLC now owns 39,509 shares of the company’s stock worth $147,000 after buying an additional 6,670 shares in the last quarter. 17.51% of the stock is currently owned by institutional investors.
Organovo Holdings Company Profile
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